Charlie White of Digital Media Net got hands on with HDV, Adobe Premiere Pro 2.0, and an OpenHD spec Dell workstation, and Mike at HD for Indies has comments.
I be surprised if plain Premiere was robust enough without Cineform, or much better than FCP. A word to the unwary: Mr. White announced the death of the Mac often enough that his opinions may be warped by a platform distortion field or other publishing pressures. Renders of short sequences might not reveal some difficulties.
HD for Indies also notes "First-hand HDV" which covers a bit of history about the HDV and gets into what's it like to shoot with HDV camcorders.